Podcast Summary
Balancing multiple companies and the Web 3 industry: Gary Vee strives to make each post impactful despite the demands of running two large companies and keeping up with the rapidly evolving Web 3 industry.
Gary Vaynerchuk, also known as Gary Vee, is currently facing new challenges as he balances the intense demands of running two large companies, VeeFriends and VaynerX Holding Co., while also making every post count in the rapidly evolving Web 3 industry. He's producing less content but striving to make each post more impactful. Despite the intensity and time commitment, he finds fulfillment in the personal connections and transformative impact his content can have on individuals' lives. At this stage in his career, he continues to learn about himself and the evolving digital landscape.
The importance of candor in business: Candor during difficult conversations and transitions can lead to improved business performance and eliminate fear for employees, ultimately driving growth.
Effective communication, specifically candor, is crucial for building and leading successful businesses. The speaker, who has a background as an operator for over 20 years, shares how they struggled with candor in the past due to fear of conflict and hurting people's feelings. However, they learned that being candid, especially during difficult conversations and transitions, can lead to improved business performance and eliminating fear for employees. The speaker's experience was validated when they noticed a pattern of negative feedback from former employees who had experienced "sloppy exits" from the company. By practicing candor more, the speaker was able to improve their leadership skills and ultimately drive substantial growth for their business, VaynerX.
Using candor effectively in the workplace: Consider feelings and perspectives, manage ego, focus on bigger picture, and use candor constructively for growth and communication.
Candor, when used improperly, can lead to fear and demotivation in the workplace. However, when practiced with kindness and humility, it can be an effective tool for growth and communication. The speaker emphasizes the importance of considering the feelings and perspectives of others, as well as managing one's own ego, in order to build strong relationships and successful businesses. He also cautions against getting too attached to subjective opinions, such as those formed in school or in response to comments online, and encourages a focus on the bigger picture. Ultimately, the speaker argues that being a good leader or entrepreneur does not require being mean or having sharp elbows, but rather a deep understanding of human emotions and the ability to use them constructively.
Stay humble, curious, and caring for growth: Embrace humility, curiosity, and caring to learn, grow, and build better relationships, leading to personal and professional success.
Humility, curiosity, and caring are essential traits for personal and professional growth. Gary Vaynerchuk emphasizes the importance of staying humble and curious to continue learning and growing, rather than becoming complacent or overconfident. He also highlights the impact of caring for relationships and acknowledges the significance of not judging others. The unexpected departure of a colleague, referred to as a "Gary Vee exit," serves as an example of the importance of these traits. By focusing on ourselves and our reactions, we can create a happier society and avoid unnecessary judgments. Ultimately, the ability to let go of judgment and embrace humility, curiosity, and caring can lead to greater personal and professional success.
Recognizing and addressing insecurities: Challenge self-honestly, practice accountability, reflect, be grateful, and make a positive impact on others' lives.
People, even grown-ups, can still behave like high school students when it comes to matters of self-perception and insecurities. Bullying and attacking others to deflect attention from one's own flaws is a common behavior, and it's essential to recognize and address these issues with self-awareness and accountability. The first step is to challenge oneself honestly and identify areas for improvement. Accountability and self-reflection are crucial in developing better soft skills and living by one's values. Gratitude is the foundation of personal growth, and recognizing the blessings in our lives can help us become better versions of ourselves. Additionally, it's important to remember that there are people in the world who face much greater challenges, such as lack of access to clean water, and focusing on our own growth should not distract us from making a positive impact on others' lives.
From dismissing social media to NFTs: A new technological shift: Web 3's decentralized blockchain offers ownership and communication benefits, shifting focus from collectability to utility in NFTs
Our attitude towards new technologies, such as NFTs and Web 3, mirrors past generations' dismissal of social media and the internet. The blockchain, a key component of Web 3, is different from the internet as it's decentralized and allows for ownership. People have always communicated through their purchases, and NFTs represent the next step in this trend. While the focus is currently on collectability and art, the future lies in utility. The joke about being able to right-click and save an NFT overlooks the importance of ownership and communication in the digital world. We need to shift our perspective and embrace the potential of Web 3.
NFTs merging utility and collectability: NFTs will revolutionize industries by offering access/transactions and potential value increase, benefiting businesses and individuals, and disrupting music and publishing.
Blockchain technology, specifically NFTs (Non-Fungible Tokens), will revolutionize various industries by merging utility and collectability. Using the examples of an NFT receipt for a Louis Vuitton bag or an NFT ticket for a sports event, the utility is the access or transaction, while the collectability comes from the potential value increase over time. This will not only benefit businesses by eliminating middlemen and increasing margins but also empower individuals to monetize their audiences and creations. Additionally, NFTs have the potential to disrupt industries like music and publishing by allowing artists to sell directly to fans and earn higher royalties. Overall, the integration of NFTs will bring significant changes to the world, and their impact is often underestimated.
Practicing Gratitude and Helping Others: Expressing gratitude daily brings joy and emotional fulfillment. Sharing knowledge and experiences can help others financially and inspire them to succeed. Recognizing the good in people and their potential to make a positive impact is crucial.
Gratitude and helping others can bring joy and emotional fulfillment. The speaker shared that they practice gratitude daily by expressing thanks for the people they love being alive. They also shared their experience of garage selling and how it has helped others make significant financial gains. The speaker's generosity in sharing their knowledge and experiences is a rare gift that inspires others to win as well. The speaker also emphasized the importance of recognizing the good in people and the tremendous potential humans have to make a positive impact on each other's lives.
Investing in NFT infrastructure and Web 3 technology with conviction: Despite not being experts, the speakers trust their intuition and are fully committed to investing in NFT infrastructure and Web 3 technology, emphasizing the importance of continuous learning and staying informed in an ever-evolving technological landscape.
The strong conviction and commitment of the speakers towards investing in NFT infrastructure and Web 3 technology. They are "all in" and even if their bets don't pay off, they believe the importance of learning from the experience and staying updated with the latest technological trends as the world moves towards decentralized systems. The speakers' confidence in their investment decisions can be compared to having the "nuts" or the best hand in poker. Despite not being experts in poker or Web 3, they trust their intuition and are fully committed to this new frontier. The importance of continuous learning and staying informed in an ever-evolving technological landscape is a key takeaway from this conversation.
